Lewis Hamilton agrees to new £40m two-year deal with Mercedes

Lewis Hamilton has signed a new contract with Mercedes, committing to race on in Formula One for a further two years. The 36-year-old, who has won a record-equalling seven world championships, will now remain in the sport until at least 2023, having made his F1 debut in 2007.

The new deal, which was announced before qualifying for Sunday’s Austrian Grand Prix, is a remarkable statement of intent from the British driver, whose future in the sport had been under intense speculation. He joined Mercedes in 2013 and has won six of his seven titles with them since then.

With the new contract he has committed to race on through the major regulation changes set to be brought in next season. It is viewed as a complete reboot for the sport and the start of a brand new challenge for Hamilton, with a wave of younger drivers also coming through.

“It is hard to believe it’s been nearly nine years working with this incredible team and I’m excited we’re going to continue our partnership for two more years,” said Hamilton. “We’ve accomplished so much together but we still have a lot to achieve, both on and off the track.

“I’m incredibly proud and grateful of how Mercedes has supported me in my drive to improve diversity and equality in our sport. They have held themselves accountable and made important strides in creating a more diverse team and inclusive environment. We’re entering a new era which will be challenging and exciting and I can’t wait to see what else we can achieve together.”

Hamilton’s decision is also of major import for F1, with the world champion being by far its most globally recognised star. Hamilton has 22.8m followers on Instagram and 6.4m on Twitter. He has been publicly outspoken on equality and diversity in recent years and has been key in encouraging F1’s effort to improve in both areas.

Lewis Hamilton trails Max Verstappen by 18 points in his bid for a record-breaking eighth world title. Photograph: Alessio Morgese/LiveMedia/Rex/Shutterstock

“I am delighted that Lewis will stay In F1 for at least another two years,” said the sport’s chief executive, Stefano Domenicali. “What he has achieved in this sport is incredible and I know he has more to come. He is a global superstar on and off the race track and his positive impact on Formula One is huge.”

Hamilton has interests in fashion and music outside the sport and has been clear that he would be happy to pursue them when he retires. Equally, however, he is in the form of his life and has repeatedly stated how much he still enjoys racing. This season he is in a closely fought battle with Red Bull’s Max Verstappen, who is only 23 and leads the title race by 18 points. Hamilton clearly relishes the challenge of continuing to vie with F1’s younger generation.

The Mercedes team principal, Toto Wolff, who joined Mercedes in 2013 – the same year as Hamilton – welcomed concluding the new contract so that his driver and team could focus on racing. “We are relishing the battle we have on our hands this year and that’s why we also wanted to agree this contract early, so we have no distractions from the competition on track,” he said. “I have always said that as long as Lewis still possesses the fire for racing, he can continue as long as he wants.”

Speculation remains over who will partner Hamilton at Mercedes next year. His current teammate Valtteri Bottas is on a one-year contract and is having a disappointing season. Williams’ George Russell, the British driver who is a Mercedes junior, is the prime candidate to replace the Finn.